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Reliance Capital gains after board approves independent listing of home finance business

Reliance Capital gains after board approves independent listing of home finance business

Sep 14,2016

The announcement was made yesterday, 13 September 2016, when stock market remained closed on account of Bakri Id.

Meanwhile, the S&P BSE Sensex was down 46.19 points or 0.16% at 28,307.35.

On BSE, so far 6.75 lakh shares were traded in the counter as against average daily volume of 5.01 lakh shares in the past one quarter. The stock hit a high of Rs 561.50 and a low of Rs 546.65 so far during the day. The stock had hit a 52-week high of Rs 574 on 9 September 2016. The stock had hit a 52-week low of Rs 303.60 on 12 February 2016. The stock had outperformed the market over the past one month till 12 September 2016, rising 21.96% compared with 0.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 32.06% as against Sensexs 6.45% rise.

The large-cap company has equity capital of Rs 252.63 crore. Face value per share is Rs 10.

Reliance Capital said the independent listing of Reliance Home Finance (RHF) is expected to unlock substantial value for existing shareholders of Reliance Capital. The listing of Reliance Home Finance will also lead to increased management focus and accelerated growth in the home finance business. As per the proposal, 49% stake in Reliance Home Finance Limited will be allotted to all shareholders of Reliance Capital, in the ratio of one share free of cost in Reliance Home Finance for every one share held in Reliance Capital.

Reliance Capital will hold a 51% stake in Reliance Home Finance, and the company will be adequately capitalised to grow the lending book to over Rs 20000 crore in the next 18 months. The proposal is subject to necessary shareholders and other approvals. Reliance Home Finance, a 100% subsidiary of Reliance Capital, provides a wide range of loan solutions like home loan, LAP, construction finance and affordable housing loans. The company reported an AUM of Rs 8259 crore ($1.2 billion) during the quarter ended 30 June 2016.

Mr. Anmol A. Ambani, Director, Reliance Capital said Prime Minister, Narendra Modi has set a goal of affordable housing for all by 2022. There is presently an estimated shortage of 10 crore residential units in India. To address the needs of this sector, Reliance Home Finance has charted an aggressive growth plan in this space, and aims to increase its book size to over Rs 50000 crore in the next few years.

On a consolidated basis, Reliance Capitals net profit rose 3% to Rs 207 crore on 48.3% growth in total income to Rs 3663 crore in Q1 June 2016 over Q1 June 2015.

Reliance Capital, a part of the Reliance Group, is one of Indias leading private sector financial services companies.

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Chennai Meenakshi Multispl. Hospital to conduct board meeting
Jul 21,2017

Chennai Meenakshi Multispl. Hospital will hold a meeting of the Board of Directors of the Company on 14 August 2017, to approve the Unaudited Financial Results of the Company for the quarter ended 30th June 2017.

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BASF India to declare Quarterly Result
Jul 21,2017

BASF India will hold a meeting of the Board of Directors of the Company on 31 July 2017, to consider and approve the unaudited financial results of the Company for the quarter ended 30th June 2017.

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India is collaborating with US on research and development of traditional medicines for various diseases including cancer: AYUSH Minister
Jul 21,2017

The Ministry of AYUSH is mandated to promote and propagate AYUSH systems of medicine across the globe. To achieve the objective, the Ministry of AYUSH signs Memorandums of Understanding (MoUs) for Country to Country cooperation in the field of Traditional Medicines; sets-up AYUSH Academic Chairs in foreign Universities/ Educational Institutes; establishes AYUSH Information Cells in the premises of the Indian Missions abroad or Indian Cultural Centres for dissemination of authentic Information about AYUSH Systems of medicine and enters into MoUs with foreign institutes for undertaking collaborative research.

As a result of concerted efforts, for the first time India has successfully engaged with United States (US) in the field of Traditional Medicine. An India-US workshop on Traditional Medicine with special focus on cancer was organized on 3-4 March, 2016 at New Delhi. A US team comprising of experts from National Cancer Institute (NCI) took part in the two day exhaustive deliberations that have resulted into significant leads.

A productive bilateral dialogue with Department of Health and Human Services (DHHS), National Institute of Health (NIH) & National Cancer Institute (NCI) team is ongoing.

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Cupid schedules AGM
Jul 21,2017

Cupid announced that the 24th Annual General Meeting (AGM) of the company will be held on 7 September 2017.

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Mercator to conduct board meeting
Jul 21,2017

Mercator will hold a meeting of the Board of Directors of the Company on 25 July 2017 to consider fund raising by way of securities/Foreign Currency Convertible Bonds or raising capital by way of Qualified Institutional Placement/ADR/GDR

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Inox Leisure to declare Quarterly Result
Jul 21,2017

Inox Leisure will hold a meeting of the Board of Directors of the Company on 26 July 2017 to consider, approve and take on record the Unaudited Financial Results of the Company for the quarter ended on 30th June, 2017.

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Board of Naga Dhunseri Group recommends final dividend
Jul 21,2017

Naga Dhunseri Group announced that the Board of Directors of the Company at its meeting held on 30 May 2017, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 25%) , subject to the approval of the shareholders.

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ONGC to table results
Jul 21,2017

ONGC will hold a meeting of the Board of Directors of the Company on 27 July 2017 to consider and approve the un-audited Financial Results of the Company for the quarter ended on 30th June, 2017

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Valecha Engineering to convene board meeting
Jul 21,2017

Valecha Engineering will hold a meeting of the Board of Directors of the Company on 29 July 2017.

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Bank of Maharashtra to hold board meeting
Jul 21,2017

Bank of Maharashtra will hold a meeting of the Board of Directors of the Company on 31 July 2017.

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India Home Loans to hold board meeting
Jul 21,2017

India Home Loans will hold a meeting of the Board of Directors of the Company on 28 July 2017, to consider and approve Quarterly Financial Results for the quarter ended 30th June, 2017.

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TECIL Chemical & Hydro Power to table results
Jul 21,2017

TECIL Chemical & Hydro Power will hold a meeting of the Board of Directors of the Company on 28 July 2017.

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Neil Industries schedules board meeting
Jul 21,2017

Neil Industries will hold a meeting of the Board of Directors of the Company on 28 July 2017, to Consider and approve the unaudited financial results of the company for the quarter ended June 30, 2017.

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Zenith Fibres to discuss results
Jul 21,2017

Zenith Fibres will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Government gives in-principle approval for strategic disinvestment of BEML Ltd to the extent of 26% of Government shareholding
Jul 21,2017

The Government has given in-principle approval for strategic disinvestment of BEML Ltd to the extent of 26% of Government shareholding with transfer of management control to strategic buyer. Transaction Advisor, Legal Advisor and Asset Valuer have been appointed by the Government as per the procedure and mechanism laid down for this purpose. After completion of the process, specific approval of Government will be sought again. The amount to be mobilised through the sale of Government Equities in BEML can be known only after completion of the process.

The details are given below:- n++n++n++n++n++n++n++n++

Breakup of extent of land and other assets of BEML Ltd as on 31.03.2017: n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++

Particulars

Gross carrying value

(Rs. in Crore)

Accumulated Depreciation
(Rs. in Crore)

Net carrying value
(Rs. in Crore)

(i)LAND (total 4191.56 acres)
Free Hold ( 2696.63 acres )
Lease Hold ( 1494.93 acres )

12.86
80.39

-
0.65

12.86
79.74

(ii)OTHER ASSETS

n++

n++

n++

Buildings

151.35

14.65

136.70

Plant and Equipment

272.41

43.38

229.03

Furniture and Fixtures

4.74

2.08

2.67

Vehicles Given on lease Own use

4.26
5.25

1.06
1.22

3.20
4.03

Office Equipment

2.27

1.16

1.11

Road and Drains

15.33

6.12

9.21

Water Supply Installations

2.38

0.09

2.29

Railway Sidings

n++n++n++n++n++n++n++ 8.69

1.99

6.70

Electrical Installation

18.06

4.36

13.70

Jigs and Fixtures

15.63

6.28

9.34

Special Tools

10.22

5.25

4.97

Computers and Data processing units

10.00

7.12

2.88

Total

613.86

95.42

518.44

The details are given below:-

Details of Profits made, Dividend and taxes paid to the Government during the last ten years: n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++

n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++n++ n++n++n++n++n++n++n++n++n++(Rs. In Crore)

Year

Profit After Tax (PAT)

Dividend
(Govt. Share)

Contribution to exchequer (taxes)

2007-08

225.65

27.00

595.63

2008-09

268.84

27.00

580.34

2009-10

222.85

22.50

688.25

2010-11

149.76

22.50

657.92

2011-12

57.25

11.25

682.58

2012-13

(79.87)

5.63

628.76

2013-14